Adapting To Accomplishment

Stay nimble to make sure that your own success doesn’t bog you down

Business processes – the way you perform a set of related tasks to produce a result – can take on a life of their own if left to evolve in an uncontrolled and undisciplined environment. As a start-up, you can get away with undocumented, informal processes while you figure things out. But, as your business grows, it’s a matter of time before ambiguity slows you down and creates internal inefficiencies.

The problem is, these processes have likely become so ingrained in your business that it’s hard to identify the problem areas. Unhappy customers, under-performing teams, dwindling revenue and frustratingly slow workflows are all signs you need better processes.

If your business is bigger today than it was when you started out, there are likely some processes that could do with an overhaul. If any of the following sound familiar, it may be time for change.

Growth challenges If you have more than 50 employees and your revenue is around R5 million, you’ve reached ‘tipping point’. This means you’re no longer exempt from external audits, as per the Public Interest Score in the Companies Act.

As your business grows, so do your legal and regulatory compliance requirements, as well as your responsibilities to external stakeholders. With formal systems and processes in place, you’re more likely to pass an external audit. It’s easier to prove compliance with laws like the Employment Equity Act and the Broad-Based Black Economic Empowerment (BBBEE) Act.